Business
DTI suspends online selling of vape
July 19, 2024, 4:30 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said on Friday he has signed an administrative order (AO) that temporarily suspends the selling of all vape products in all e-commerce platforms. In a press briefing with trade reporters in Makati City, Pascual said the AO… Read More
PH posts $155-M balance of payments deficit in June
July 19, 2024, 3:33 pm
MANILA – The country's balance of payments (BOP) position recorded a lower deficit in June this year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP on Friday showed that the BOP in June posted a deficit of USD155 million, down from the USD606 million deficit in June 2023.… Read More
MIC finalizes investment, risk management framework
July 19, 2024, 1:22 pm
MANILA — The Maharlika Investment Corp. (MIC) has finalized its investment and risk management framework and also secured a membership in the International Forum of Sovereign Wealth Funds (IFSWF), giving it authority to begin engaging with investors and gain access to tap global network of… Read More
Easing inflation to boost FMCG firm’s performance in PH
July 18, 2024, 7:44 pm
MANILA – Even multinational fast-moving consumer goods (FMCG) company Unilever is seen to benefit from the easing inflation in the country as this would boost consumer spending on such goods. Unilever Philippines Nutrition Business lead Marinelle Villanueva told reporters Thursday that the sales… Read More
Improving peso boosts index
July 18, 2024, 6:33 pm
MANILA – The improving peso against the US dollar boosted the local bourse to the 6,700 level on Thursday. The Philippine Stock Exchange index (PSEi) increased by 0.26 percent to 6,705.01, with All Shares also improving by 0.23 percent to 3,602.86 points. “The local market extended its climb… Read More
US exec: Nuke deal with PH to ‘stand multiple US administrations’
July 18, 2024, 6:29 pm
MANILA – A visiting official of the United States has assured the Philippines that the 123 Agreement, or the civil nuclear cooperation deal, could stand different administrations, especially with the US presidential elections in November. US Nuclear Regulatory Commission chair Christopher Hanson… Read More
Luzon grid under yellow alert anew
July 18, 2024, 9:56 am
MANILA – For two straight days, the Luzon grid has been placed under yellow alert anew following the derated capacity of SMC Consolidated Power Corp. (SCPC) Units 1 to 4. The National Grid Corporation of the Philippines (NGCP) announced Thursday that the Luzon grid is under yellow alert from 1… Read More
Young Pinoys urged to take electronics industry-related courses
July 17, 2024, 8:44 pm
MANILA – Amid the declining number of enrollees in certain engineering courses, stakeholders in the semiconductor and electronics industry have urged young Filipinos to explore career opportunities in this sector. In a press briefing in Makati City Wednesday, Department of Trade and Industry… Read More
PSEi, peso up on strong PH economic growth projections
July 17, 2024, 8:31 pm
MANILA – The local bourse strengthened on Wednesday amid strong Philippine economic growth projections and anticipated rate cut by the Federal Reserve, while the peso also closed stronger against the dollar. The Philippine Stock Exchange index (PSEi) rose 20.62 points to 6,687.71, while the… Read More
PH renewables get boosts from new 64-MW Cavite solar plant
July 17, 2024, 8:27 pm
MANILA – The country's supply of renewable energy (RE) continues to increase as Prime Infra's unit, Prime Solar Solutions Corp., inaugurated its 64-megawatt solar power plant in Maragondon, Cavite on Wednesday. The new solar plant is part of Prime Solar's 128-MW pilot project, which includes… Read More
PH economy grows by 6.1% on average during PBBM's term
July 17, 2024, 7:05 pm
MANILA – The Philippine economy has so far grown by more than 6 percent since President Ferdinand R. Marcos Jr. took office in 2022. Economic managers earlier said Philippine economic growth from the third quarter of 2022 to the first quarter of 2024 hit an average of 6.1 percent. For the first… Read More
PEZA optimistic to hit up to P250-B investment approvals in '24
July 17, 2024, 6:15 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga remains confident in meeting the investment approvals of PHP200 billion to PHP250 billion by year-end. Panga's optimism is bolstered by projections of robust gross domestic product (GDP) growth and promising… Read More
BSP OKs new guidelines, penalty provisions for FX transactions
July 17, 2024, 4:55 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said the Monetary Board has approved further amendments to foreign exchange (FX) regulations. The amendments were detailed in BSP's Memorandum Circular 1197 issued on July 12 this year. The BSP said the major amendments include the revised monetary… Read More
BIR, SEC sign deal on data-sharing
July 17, 2024, 4:35 pm
MANILA – The Securities and Exchange Commission and the Bureau of Internal Revenue on Wednesday signed an agreement allowing the BIR to access the data-sharing system established by the SEC. The memorandum of agreement signed at the SEC headquarters in Makati City allows the BIR to be the first… Read More
Luzon under yellow alert for 6 hrs. on July 17
July 17, 2024, 2:35 pm
MANILA – The National Grid Corporation of the Philippines (NGCP) placed the Luzon grid under yellow alert on Wednesday, attributing the thinner power supply to the tripping of the 417.4-megawatt San Gabriel power plant. In an advisory, the NGCP said the yellow alert in the Luzon grid will be… Read More
New transmission lines to improve Bohol's power situation
July 17, 2024, 1:59 pm
MANILA – The province of Bohol can expect a better power situation as the National Grid Corporation of the Philippines (NGCP) targets to complete the Cebu-Bohol 230 kilovolt (kV) line this December. On Tuesday, the NGCP energized the Dumanjug-Corella 230 kV Line 1 and Dumanjug 70 megavolt… Read More
Local index falls on profit-taking; peso improves
July 16, 2024, 7:47 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined Tuesday on profit-taking, while the local currency improved its performance. The PSEi closed the day lower by 0.33 percent at 6,667.09, with All Shares also shedding by 0.23 percent down to 3,585.93. “Local shares succumbed to profit… Read More
PH, foreign chambers urge PBBM to prioritize 21 pending bills
July 16, 2024, 7:38 pm
MANILA – The Philippine Business Group (PBG) and Joint Foreign Chambers (JFC) have called on President Ferdinand R. Marcos Jr. to prioritize 21 pending legislative measures that will push for economic reforms. Ahead of President Marcos' State of the Nation Address (SONA), the PBG-JFC said these… Read More
BTr fully awards Treasury bonds
July 16, 2024, 7:07 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday said the 10-year Treasury Bond (T-bonds) reissuance saw strong demand, prompting the Auction Committee to fully award the security. With a remaining term of nine years and six months, the T-bond fetched an average rate of 6.212 percent, lower… Read More
Consing: Maharlika seen to boost economic growth, reduce poverty
July 16, 2024, 7:04 pm Updated on July 17, 2024, 10:40 am
MANILA – The Maharlika Investment Fund (MIF) will help boost the country's economic growth by reducing poverty and creating more jobs. Maharlika Investment Corporation (MIC) president and chief executive officer Rafael Consing said the MIF aims to help support and sustain the country's high… Read More
